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S_A_V [24]
3 years ago
11

Ross company paid current month's rent, $1300. which accounts are affected​

Business
1 answer:
telo118 [61]3 years ago
3 0
The accounts affected are Ross company and rent account
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Synthetic Fuels Corporation prepares its financial statements according to IFRS. On June 30, 2019, the company purchased equipme
Elza [17]

Answer:

The correct interpretation of the given problem is outlined in the following portion of the explanation.

Explanation:

On 2019,

Company purchased = $540,000

Life useful = 5 years

(1)...

On year 2019,

Depriciation=\frac{Cost - Residual \ Value}{useful \ life}

On putting the values, we get

⇒                   =\frac{540,000-0}{5}

⇒                   =108,000

Journal - Dr $108,000 in depreciation A/c.

(2)...

Assets A/c Dr $ 92,880, To reassess surplus $92,880

Now,

Revalution \ Amount= Carring \ Amount \ of \ Assets \ on \ revaluation \ Date - Valuation \ of \ non \ current \ Assets

On putting the values, we get

⇒                               =432,000 - 524,880

⇒                               =92,880 (Gained revaluation)

(3)...

On year 2020,

Depriciation = \frac{Cost - Residual  \ Value}{ useful \ life}

On putting values,

⇒                  =\frac{524,880}{4}

⇒                  =131,220

Journal - Depreciation A/c Dr. $131,220

.

(4)...

Surplus revaluation: Dr $39,312

Revalution \ Amount = Carring \ Amount \ of \ Assets \ on \ revaluation \ Date - Valuation \ of \ non \ current \ Assets

On putting values,

⇒                               =393,660-354,348

⇒                               =39,312 (Loss revaluation)

3 0
3 years ago
2
GarryVolchara [31]

Answer:

intermediate goods or consumer goods

Explanation:

8 0
3 years ago
g A monopoly may exist because Question 21 options: a) government has refused to grant a public franchise. b) one firm has the e
matrenka [14]

Answer:

B. one firm has the exclusive ownership of a scarce resource.

Explanation:

Monopoly can be regarded as market structure whereby a single seller thrives, this is a structure whereby the seller sells a unique product in the market. As far as monopoly market is concerned, no competition is been encontered by the manufacturer , because he is the only one selling goods with no close substitute. As a result of this there is restrictions of the entry of other sellers in the market.

It should be noted that monopoly may exist because one firm has the exclusive ownership of a scarce resource.

5 0
3 years ago
Read 2 more answers
Yeager Corporation has used regression analysis to perform price elasticity analysis. In doing so management regressed the quant
Olegator [25]

Answer:

b). 72.458 %

a). 24, 213

Explanation:

1). The second option i.e. 72.458% correctly measures the variance percentage brought in the dependent variable(regressed the quantity demanded) by manipulating the independent variable(price elasticity). The first option is wrong as it shows R multiple which is rather the coefficient. The third and the last options are incorrect as they display the intercept employed to determine the quantity and the key error of calculating the standard deviation.

2). The predicted quantity demanded would be 24,213 if the price is fixed at $7.00.

It can be calculated using the formula;

Quantity demanded = Intercept + (Adjusted R squared * Price coefficient)

∵ Quantity Demanded = 56,400.50 + (7 X -4,598.2)

= 24,213

7 0
2 years ago
What is 2divided by 100
aleksley [76]

Answer:

0.02

Explanation:

4 0
3 years ago
Read 2 more answers
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